Time Inc. (TIME) Given Average Rating of “Hold” by Analysts
Time Inc. (NYSE:TIME) has earned a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $15.67.
TIME has been the topic of several recent analyst reports. Macquarie lowered Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Thursday, June 15th. Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine lowered Time from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Stephens raised Time from an “underweight” rating to an “equal weight” rating in a research note on Monday, March 20th. Finally, BidaskClub raised Time from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th.
In related news, Director Dennis J. Fitzsimons purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average price of $11.99 per share, for a total transaction of $35,970.00. Following the completion of the acquisition, the director now owns 30,674 shares of the company’s stock, valued at approximately $367,781.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald S. Rolfe purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average price of $12.85 per share, with a total value of $25,700.00. Following the acquisition, the director now directly owns 32,147 shares of the company’s stock, valued at approximately $413,088.95. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 6,000 shares of company stock valued at $74,600. Corporate insiders own 1.92% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its position in Time by 3.3% in the second quarter. Meeder Asset Management Inc. now owns 44,941 shares of the company’s stock valued at $645,000 after buying an additional 1,430 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Time during the second quarter valued at $281,000. NN Investment Partners Holdings N.V. acquired a new position in Time during the second quarter valued at $436,000. Capstone Asset Management Co. boosted its position in Time by 49.3% in the second quarter. Capstone Asset Management Co. now owns 28,420 shares of the company’s stock valued at $408,000 after buying an additional 9,390 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Time during the first quarter valued at $29,239,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Time (NYSE:TIME) opened at 13.95 on Tuesday. The company’s market capitalization is $1.39 billion. Time has a 52 week low of $11.65 and a 52 week high of $20.40. The stock has a 50 day moving average price of $13.08 and a 200-day moving average price of $17.02.
Time (NYSE:TIME) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.03. The company had revenue of $636 million during the quarter, compared to analyst estimates of $641.85 million. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. Time’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) earnings per share. Equities research analysts expect that Time will post $1.18 EPS for the current year.
Time Company Profile
Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.
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